Nearest Support: $3.40
Catalyst: Share Offering >>5 Cash-Hoarders to Triple Your Gains It's been quite a quarter for DryShips ( DRYS) -- in the last three months, this ocean transportation stock has doubled thanks to reports of fast-rising rates for shipping tonnage. But shares are off close to 6% this afternoon after traders reacted to a $200 million dilutive share offering in the small-cap name. While higher prices make the offering fruitful for management, the issuance is threatening to reverse the uptrend that DRYS has been rallying on. Support at $3.40 looks like the floor for the uptrend. If DRYS breaks through that level, look out below. In the meantime, the hiccup in buying pressure today isn't exactly make or break just yet.
Cooper Tire & Rubber
Nearest Support: $26
Catalyst: Acquisition Price Cut >>5 Stocks Under $10 Set to Soar Shares of Cooper Tire & Rubber ( CTB) are getting shellacked this afternoon on news that the firm agreed to a price cut with Indian tire company Apollo Tyres. Worse, the two sides can't agree on how large of a concession to take on the deal. Apollo's acquisition of Cooper has been embroiled with drama this year, and the latest problems only hike the risk premium that's being priced into the deal. As an acquisition trade, there's already a lot of headline risk at play in CTB. When the pricing concessions are announced, expect stock prices to snap to the new level minus whatever risk premium the market prices in. That means it's a bad idea to treat CTB like a typical technical trade right now.
National Bank of Greece
Nearest Support: $4
Catalyst: Hedge Fund Buying >>5 Big Trades to Take Now National Bank of Greece ( NBG) hasn't been a stranger to our list of the most active stocks on the NYSE -- but this volatile name has spent more time in the spotlight for its huge moves lower than for buying activity. That's not the case today. Instead, shares of NBG are up around 15% this afternoon on news that prominent hedge funds are quietly buying stakes in the Greek bank. From a fundamental standpoint, deep value investors are taking note of the extremely bargain-priced Shiller P/E in Greece. And they're looking at now well-capitalized Greek banks as a way to invest in the story. Technically, NBG is breaking out from a long-term base at $5 today, and resistance isn't overhead until $6. For traders willing to take a smaller move in this name, it looks like a high-probability setup.
Yingli Green Energy
Nearest Support: $6
Catalyst: Solar Industry Strength >>5 Hated Earnings Stocks You Should Love The solar industry is seeing buying pressure this afternoon, and small-cap Chinese solar stock Yingli Green Energy ( YGE) is benefitting more than most with a 5% pop this afternoon. That's largely thanks to a lack of overhead resistance in this stock just like with Micron Technology, new highs in YGE means that fewer shareholders are trying to get back to even. Without selling pressure, this stock has room to run. Momentum still looks strong in Yingli Green Energy right now, and traders who aren't afraid of volatility may want to consider buying. Just bear in mind that the nearest safety net of support is a fair distance away at $6. To see these stocks in action, check out the at Most-Active Stocks portfolio on Stockpickr. -- Written by Jonas Elmerraji in Baltimore.
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